Bail bond agents who conduct business in the State of Arizona are required to be licensed with the Arizona Department of Insurance and Financial Institutions (DIFI), pertinent to the ARS 20-340.02. One of the requirements to obtain this license is a $10,000 Bail Bond Agent bond.
This license bond is a financial guarantee from Jet Insurance Company to the ADI displaying the financial capability to recover unlawful fees or unreturned collateral.
The $10,000 Bail Bond Agent Bond can be purchased immediately online from Jet.
Jet’s price for the bond starts at $10 monthly or $100 annually. These rates are based on the applicant’s personal credit..
Preferred pricing options for both monthly and annual payment plans can be found below:
With Jet you can expect a quick process and the lowest rates as we have eliminated middlemen from this process with their delays and fees.
The DIFI has an obligation to protect citizens and businesses of Arizona by promoting an innovative and safe insurance marketplace. The legislature set in place ARS 20-340.01 to legally mandate that all Arizona bail bondsmen obtain a bond which ensures that collateral is properly returned to the accused or submitted to the court as needed, and that no unlawful fee or premiums are charged to the accused.
Jet’s role, much like your role as a bond agent, is to make a guarantee someone will fulfill their legal obligation. In the case of this license bond, we guarantee certain financial transactions follow the law and if not, it is coming out of our pocket to make it right. The major difference is we are not going to show up to your house should you default, we just send an invoice.
Jet will request basic information through our online application process including your social security number for a soft credit check. Don’t worry it will not show up on your credit report or affect your score.
You will be able to purchase your bond right then and there and receive a bond copy for download. Whole process takes about 3 minutes.
Fear not, as Jet will complete the filing for you. Upon completion of the online application process, an original bond form will be sent to the ADI as well as a copy for your own records.
Should you want to send in the bond form personally, perhaps with additional paperwork, let Jet know at checkout and we will deliver the original to you.
The mailing address for the ADI is found below:
Arizona Department of Insurance and Financial Institutions
100 N 15th Ave, Suite 261
Phoenix, AZ 85007
With Jet, yes. Just send a cancellation request through mail or email and we’ll cancel the bond for you. A cancellation notice will be sent by Jet to the Arizona Department of Insurance, and the bond will be canceled following a mandatory 30-day grace period (not our idea, this is legislatively required).
When determining refunds, the 30-day period may be factored in by Jet, as the bond is still active. If the monthly payment option was chosen, Jet will halt payments following the end of the cancellation period.
Bail bondsmen are expected to follow all state laws and rules pertinent to ARS 20-340.04. Bail bondsmens should read over state statutes in detail before engaging in any business operations. In case you don’t want to, here is a breakdown of how the bond fits in.
A bondsman shall never accept money or other valuable consideration from the accused, except for the following circumstances:
Collateral when collected needs to make it back to the accused when they show up to court or to the court if the accused does not. Premiums must follow the rate following submitted to the DIFI and no unlawful fees can be charged. We are a surety bond carrier now what this is all about and strictly abide by these rules, thus will never receive a complaint.
Those accused or the court who have been financially affected through negligent or fraudulent bail bondsmen behavior may submit a complaint to the ADI or make a claim directly on our bond. The DIFI may proceed with a review and investigation of the complaint and hand down corrective action upon the bail bondsmen.
Whether guilty or not it is usually easiest to abide by the demands of the regulator. For the bondsman to not follow the demands of the ADI will put their license and bond in jeopardy.
If you receive a license bond claim notice, immediately contact Jet and include all applicable information pertaining to your case. Jet will begin an investigation of the details of the claim. We will defend our principals from frivolous claims. If the bond claim is validated, Jet will issue payment to those affected, up to the maximum bond limit. The bondsman is still responsible for their mistakes, and is required to reimburse Jet for all claims paid just like the accused is still responsible to show up for their court date.